Scapia doubles valuation to over $500 million in $63 million round

Scapia has raised $63 million and more than doubled its valuation to above $500 million, a sharp jump that underscores how quickly travel-linked fintech has become one of India’s more closely watched consumer categories. The round was led by General Catalyst, with existing backers Peak XV Partners and Z47 also participating.

The financing was structured as an all-equity, all-primary round with no secondary transactions, giving Scapia fresh capital rather than cashing out early investors. The Bengaluru-based startup now has about $135 million in total equity funding across four rounds, a notable build-out for a company founded only in 2022 by former Flipkart senior vice president Anil Goteti.

Scapia has built its business around a single proposition: fold travel booking, co-branded credit cards, UPI-based payments and commerce into one app for Gen Z and millennial users. Its credit card partnerships with Federal Bank and BOBCARD give the company a banking and card-issuing backbone, while the app tries to keep users inside one ecosystem from booking to payment to rewards. The company said it plans to use the new capital to widen its product portfolio across financial services and travel, scale customer growth, sharpen its product suite, strengthen brand awareness and accelerate AI-led product development.

The valuation step-up is especially striking because Scapia’s last publicly reported financing came in April 2025, when it raised $40 million in a Series B at a post-money valuation of 1,650 crore, or about $192 million. The latest round puts the company at well over twice that level in roughly a year, a sign that investors are willing to pay up for startups that combine transactions, loyalty and bookings in one consumer interface.

The deal also arrives against a more cautious fintech fundraising backdrop, even as capital continues to flow toward products linked to travel and payments. One reason is the size of the market Scapia is chasing: a Redseer Strategy Consultants and Fireside Ventures report cited in coverage said India’s Gen Z travel spend could reach $102 billion by 2030, up from $32 billion in FY24. For investors, that makes travel-fintech look less like a narrow payments play and more like a long-term consumer platform.

General Catalyst’s lead role adds another layer to the deal. The firm said in February 2026 that it plans to invest $5 billion in India over the next five years, signaling that Scapia sits inside a broader push to back category-defining startups in one of the world’s most competitive digital consumer markets.